[Experienced Expert Predicts Cardano Could Surge 10x to $4.29]
In a recent YouTube video, Maher admitted that Cardano has underperformed since its last bull run in 2022. While Cardano has attractive features and high popularity, its price has dropped significantly since 2022, causing many to lose confidence in it.
Maher suggested three main reasons to explain why Cardano is underperforming. First, he noted that Cardano lacks a core narrative like Ethereum (ETH) and Solana (SOL), making it difficult to attract investors. Ethereum benefited from a boost from spot ETFs and SOL gained from meme coin popularity, while Cardano lacked these price-driving factors.
Secondly, Maher believes that Cardano’s core values are too complex for investors to understand, which hinders its development and adoption.
He mentioned that Cardano lacked active community participation earlier this year, resulting in low investor enthusiasm for the project. Maher pointed out in a post on May 7, 2024 that the Cardano community should be more active in promoting the advantages of the project, so as to enhance market confidence in it.
Interestingly, Maher noticed a change in market sentiment shortly after the post, with positive sentiment rising within the Cardano ecosystem. Cardano began to gain similar meme coin popularity to Solana earlier, and projects like Snek (SNEK) and Nike (NIKE) began to lead the industry.
Maher said Cardano is a project with solid fundamentals that could potentially see price increases with just better narrative and brand recognition. He believes that Cardano’s price could surge as high as 10x as long as the community builds excitement in the bull market. Currently, the price of Cardano is $0.3905, and if it increases 10 times, it will reach $4.29.
